The caretaker government has decided to transition power distribution companies to the private sector through long-term concessions. This major shift was announced alongside an eight-hour daily gas load-shedding decision for domestic users during winter, prompted by an 18% decline in gas reserves this year.
The options for Discos involved transfer to provinces, long-term concessions to the private sector, or full privatisation, with the second option being chosen. Caretaker Power Minister Muhammad Ali clarified these developments in a press conference, highlighting the depletion of gas reserves as a prime concern.
Efforts Towards Enhancing Business & Investment
The Special Investment Facilitation Council (SIFC) meeting, under the leadership of caretaker Prime Minister Anwaarul Haq Kakar, also discussed combatting a yearly tax evasion worth Rs1 trillion through Afghan trade. The forum emphasized Pakistan’s economic ties, noting that the Gulf Cooperation Council (GCC) recently signed its first-ever free trade agreement with Pakistan. Despite the considerable trade volume of GCC, Pakistan’s export share remains minimal. In its official statement, the Prime Minister’s Office remarked on the committee’s dedication to improving the investment environment and accelerating the privatisation process to diminish continuous losses to the national treasury.
